I bought a Proton Wira Aeroback car sometime in 1999 / 2000. I was consistently paying the monthly installments to Ambank. Sometime in 2002 / 2003 I decided to sell the car to get another car. I sold my car to a second hand car dealer. I still had some outstanding balance to settle and the second hand car dealer said he will settle with the bank to transfer the ownership. I thought everything was settled at that time.

In 2009 / 2010, Ambank called me to informed me that I still have the outstanding balance for this Proton car. I was shocked and upset because Ambank took 6 years to inform me of this outstanding amount! I bought and sold 2 cars already within that period with no problems with obtaining bank loans.

Ambank used a debt collection agency to collect the outstanding balance. The debt collection called me and asked me to pay RM2000 and account will be re-activated. Then every month just need to pay RM300. I have been paying for close to 3 years already.

My question is why Ambank took so long to inform me of this outstanding amount? I actually told the bank officer off for causing me this distress. Is there any way I can settle this issue without paying out any further installments. I believe the fault lies with Ambank and they should have written off the loan or at the very least informed me much earlier if there was a default of the loan after 3 months. I still have a balance of RM18,000 plus on the outstanding loan. Please help. Thank you.